Question: Has anyone requested a refund and got this refund in BITCOINS??

I'm still waiting for a refund in Bitcoin.

Here is the refund timeline thus far:

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

Question: Has anyone requested a refund and got this refund in BITCOINS??

I'm still waiting for a refund in Bitcoin.

Here is the refund timeline thus far:

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

Question: Has anyone requested a refund and got this refund in BITCOINS??

I'm still waiting for a refund in Bitcoin.

Here is the refund timeline thus far:

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

I will post an update when I actually receive the refund.

in BTC???

Take a deep breath. Now, re-read the post you quoted making sure to pay attention to each and every word.

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

I will post an update when I actually receive the refund in BTC.

Interesting-did you pay in fiat initially? How many units?Does this mean that refund in BTC is a default option now? I would actually welcome refund in BTC if I ever request it.

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

I will post an update when I actually receive the refund in BTC.

Interesting-did you pay in fiat initially? How many units?Does this mean that refund in BTC is a default option now? I would actually welcome refund in BTC if I ever request it.

It's not default, I have had several refunded in USD, though paid for in BTC.Good to know this is also an option though (shame it's not gox price)

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

I will post an update when I actually receive the refund in BTC.

Interesting-did you pay in fiat initially? How many units?Does this mean that refund in BTC is a default option now? I would actually welcome refund in BTC if I ever request it.

It's not default, I have had several refunded in USD, though paid for in BTC.Good to know this is also an option though (shame it's not gox price)

Well, gox price is no longer a correct mark since long ago Speaking for myself, I actually sent my bank info when I requested the refund, but I was told I'll get BTC instead because I used Bitapy to pay for my orders. The email didn't sound like an option, but was rather imperative. At first I even thought they might intend to return the exact same amount of BTC I originally sent, but I was quickly enlighten that the amount will be the $$ value of my orders at Bitstamp's rate at the moment of refund taking place. I also was more than happy to receive the refund in BTC, thus saving some banking fees

P.S. This is indeed the first positive ROI I obtained on KNC gear. Still an unrecoverable amount remaining from my Oct batch

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

I will post an update when I actually receive the refund in BTC.

Interesting-did you pay in fiat initially? How many units?Does this mean that refund in BTC is a default option now? I would actually welcome refund in BTC if I ever request it.

It's not default, I have had several refunded in USD, though paid for in BTC.Good to know this is also an option though (shame it's not gox price)

I asked and was told the btc refund option was for the customers with large orders.

Feb 8th : I requested a refund and provided bank transfer details.Feb 13th : I sent a follow up message saying that I haven't received a response.Feb 14th : Knc responded that they will need to provide the refund in BTC and asked for my BTC address. They said they will use the Bitstamp exchange rate at the time of refund.Feb 14th : I responded with my refund BTC address.Feb 17th : Knc responded that the refund would be processed shortly. The status of my orders changed to "Refund ready for process".

I will post an update when I actually receive the refund in BTC.

Interesting-did you pay in fiat initially? How many units?Does this mean that refund in BTC is a default option now? I would actually welcome refund in BTC if I ever request it.

I just received a full refund in BTC at the Bitstamp exchange rate. I paid in BTC originally, but Knc immediately converted that to fiat via Bitpay.

Perhaps I was spoiled by Bitmain, but it's hard to justify paying 10k for a 3 TH Neptune pre-order that likely won't be delivered in the next 2 months when I could get 1.8 TH from Bitmain for 10k that was delivered last week.

No one will be shipped a Neptune... ever. We won't be given any option other than 3THs hosted mining for a year (six months, maybe) in some massive aircraft hanger on the frozen tundra. Mark my words.

0.1 BTC bet on that?

No thanks and I hope I'm wrong.

But......

I just have this hunch. I've never been one to believe in conspiracy theories and the like. But I am almost completely convinced that not only will we never get to physically touch a Neptune but KNC will never actually produce them. <snip>

Oh they will produce them, at the deadline everyone will get the 3TH of Cloud hashing

at the Deadline plus 1 month the Neptunes will show up in the Tundra data center and KNCCLOUD.COM will be born.

Doubt me? Go do a Whois on KNCCLOUD.com and see who owns that domain.Wait let me save you the time:

and so knc converted price in usd to btc with actual exchange rate of bitstamp.... right ?

Correct

why have you asked for a refund ?

Because Knc is too ambiguous with their delivery dates and was a bit disingenuous with how they handled the Neptune and plan B. They promise a Q1/Q2 delivery, which is anytime between today and June 30th. I think Neptune buyers will do OK if they get 3TH in March, but after that there will likely be better options available.

Also, I paid for a Neptune, and not to build a mega Jupiter mining farm, so I feel a bit mislead that KNC is using Neptune funds to build Jupiters as fast as they can for their hosting facility, and not offering any for sale to previous customers.

Knc keeps saying that they want to build long term relationships with their customers, but their actions say otherwise.

I had asked about the BTC refund when I refunded and was told it was Bank Wire only except under certain conditions. Those conditions were never revealed to me by the way, so who knows?

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I had asked about the BTC refund when I refunded and was told it was Bank Wire only except under certain conditions. Those conditions were never revealed to me by the way, so who knows?

How many Neptunes did you have on order?

Someone mentioned BTC refunds were for "larger" orders.

That may be it as this was only for a single unit.

Tired of substandard power distribution in your ASIC setup???Chris' Custom Cablez will get you sorted out right! No job too hard so PM me for a quoteCheck my products or ask a question here: https://bitcointalk.org/index.php?topic=74397.0

Question: Has anyone requested a refund and got this refund in BITCOINS??

Yes. Refund requested last Wednesday, BTC received today @$630 rate (most likely the exact Bitstamp exchange rate at the time the transfer took place)

I would take it that KnC is providing refunds in BTC as it's cheaper than doing so in dollars. The dollar cost of BTC has dropped since the orders were made and paid. They should refund in the same specie which was used for payment.

"I would take it that KnC is providing refunds in BTC as it's cheaper than doing so in dollars."

Wrong. It's the same for them. Unless they were paying banking fees, not the receiving customer. Otherwise the customer receives the same amount of $$ he originally paid, converted into BTC at the rate the refund occurs.